GSWO vs. QUU.TO

Last updated Jun 6, 2026

GSWO (Goldman Sachs ActiveBeta World Equity ETF) and QUU.TO (Mackenzie US Large Cap Equity Index ETF) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while QUU.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap CAD Index. Both are passively managed. Over the past 3 years, GSWO returned 17.89%/yr vs 23.06%/yr for QUU.TO. Their correlation of 0.80 suggests significant overlap in exposure. GSWO charges 0.25%/yr vs 0.07%/yr for QUU.TO.

Performance

GSWO vs. QUU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta World Equity ETF (GSWO) and Mackenzie US Large Cap Equity Index ETF (QUU.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GSWO is traded in USD, while QUU.TO is traded in CAD. To make them comparable, the QUU.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GSWO achieves a 8.59% return, which is significantly lower than QUU.TO's 11.59% return.

GSWO

• 1D: -2.69%
• 1M: -0.16%
• YTD: 8.59%
• 6M: 9.20%
• 1Y: 17.86%
• 3Y*: 17.89%
• 5Y*: —
• 10Y*: —

QUU.TO

• 1D: 0.34%
• 1M: 4.71%
• YTD: 11.59%
• 6M: 11.57%
• 1Y: 28.56%
• 3Y*: 23.06%
• 5Y*: 13.70%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GSWO vs. QUU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GSWO Goldman Sachs ActiveBeta World Equity ETF	8.59%	18.97%	15.29%	16.28%	-6.15%
QUU.TO Mackenzie US Large Cap Equity Index ETF	11.57%	18.49%	25.04%	27.85%	-13.57%

Correlation

The correlation between GSWO and QUU.TO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.80

The correlation between GSWO and QUU.TO has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

Return for Risk

GSWO vs. QUU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSWO

GSWO Risk / Return Rank: 50
GSWO Sharpe Ratio Rank: 50
GSWO Sortino Ratio Rank: 51
GSWO Omega Ratio Rank: 51
GSWO Calmar Ratio Rank: 43
GSWO Martin Ratio Rank: 57

QUU.TO

QUU.TO Risk / Return Rank: 76
QUU.TO Sharpe Ratio Rank: 79
QUU.TO Sortino Ratio Rank: 78
QUU.TO Omega Ratio Rank: 79
QUU.TO Calmar Ratio Rank: 71
QUU.TO Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GSWO vs. QUU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) and Mackenzie US Large Cap Equity Index ETF (QUU.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GSWO	QUU.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.29	-0.67
Sortino ratio: Return per unit of downside risk	2.32	3.16	-0.84
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.01	3.18	-1.17
Martin ratio: Return relative to average drawdown	9.58	14.47	-4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSWO vs. QUU.TO - Sharpe Ratio Comparison

The current GSWO Sharpe Ratio is 1.61, which is comparable to the QUU.TO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of GSWO and QUU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSWO	QUU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.29	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.74	+0.20

Drawdowns

GSWO vs. QUU.TO - Drawdown Comparison

The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum QUU.TO drawdown of -33.41%. Use the drawdown chart below to compare losses from any high point for GSWO and QUU.TO.

Drawdown Indicators

	GSWO	QUU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.77%	-33.41%	+15.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-9.02%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-9.97%	-19.07%	+9.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.98%	—
Current Drawdown Current decline from peak	-2.88%	-0.41%	-2.47%
Average Drawdown Average peak-to-trough decline	-3.25%	-5.44%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.98%	-0.11%

Volatility

GSWO vs. QUU.TO - Volatility Comparison

Goldman Sachs ActiveBeta World Equity ETF (GSWO) and Mackenzie US Large Cap Equity Index ETF (QUU.TO) have volatilities of 3.92% and 3.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSWO	QUU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	3.87%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	9.55%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.11%	12.55%	-1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	17.26%	-4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.02%	19.29%	-6.27%

GSWO vs. QUU.TO - Expense Ratio Comparison

GSWO has a 0.25% expense ratio, which is higher than QUU.TO's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSWO vs. QUU.TO - Dividend Comparison

GSWO's dividend yield for the trailing twelve months is around 1.65%, more than QUU.TO's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GSWO Goldman Sachs ActiveBeta World Equity ETF	1.65%	1.74%	1.75%	2.06%	1.73%	0.00%	0.00%	0.00%	0.00%
QUU.TO Mackenzie US Large Cap Equity Index ETF	0.88%	0.97%	1.00%	1.21%	1.59%	0.98%	1.34%	1.59%	1.55%

Frequently Asked Questions

Can I hold both GSWO and QUU.TO in my portfolio?

GSWO and QUU.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSWO or QUU.TO?

On fees, QUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSWO or QUU.TO?

QUU.TO is cheaper with a 0.07% expense ratio, compared with 0.25% for GSWO.

What is the main difference between GSWO and QUU.TO?

GSWO is categorized as Global Equities, while QUU.TO is Large Cap Blend Equities. GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while QUU.TO tracks Solactive US Large Cap CAD Index. They also come from different issuers: Goldman Sachs and Mackenzie. Their fees differ too: 0.25% for GSWO and 0.07% for QUU.TO.